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Nantucket is in many ways a world unto itself — a world that has long been popular with second-homeowners. How popular? About three-quarters of residences are non-primary. And in peak summer season, the island's full-time population of only 12,000 swells nearly fivefold.

Thirty miles off mainland Massachusetts, Nantucket is a tiny, elbow-shaped island, 3-by-14 miles and ringed by beaches, with one main town. More than half the island is protected from development, meaning land is at a premium and home prices are stratospheric.

Seemingly endless expanses of sand give residents the feeling of private beaches, though the beaches are public. Thanks to the Gulf Stream, water temperatures are comfortable for the Northeast, making Nantucket a Shangri-La for swimmers, boaters and anglers.

Its eponymous epicenter, Nantucket Town, is one entire National Historic District where little has changed architecturally since the 17th century. Visitors stroll cobblestone streets, savor milkshakes at old-fashioned soda fountains, and shop at mom-and-pop stores.

The island is one of the few places with its own internationally known aesthetic, "Nantucket Style," which encompasses architecture, crafts (woven baskets adorned with seashells) and even dress: traditionally salmon-colored canvas pants.

Local wealth ensures a multitude of museums and cultural offerings as well as dining options, plus parks and preserves with extensive bike and walking paths.

In the least expensive area, Mid-Island, "starter" condos begin at $700,000. But the main geographic division is in-town or out-of-town.

"If our buyers are from Boston and want a summer or weekend beach house, they want to be out-of-town. If they're from farther away, like Washington, D.C., they might want to be in-town, where it is a little more exciting," says David Callahan, managing partner of Jordan Real Estate.

Island-wide, waterfront homes are the most desirable, he says. "We just sold a cute — not big — waterfront home for $4.5 million."

A look at three Nantucket 'neighborhoods'

• Nantucket Town. The only urban center is as bustling as this sleepy island gets, with the majority of stores, restaurants, the marina and ferry terminals. Homes and condos are mostly in preserved 17th-century buildings, starting at more than $1 million. •Waterfront. The island's most coveted locations begin at $3 million to $4 million and run into the teens — or more. • Brant Point. An ultra-desirable combination, this is the only part of Nantucket Town that is on the beach. The White Elephant (whiteelephanthotelresidences.com), the island's premier luxury hotel, is selling its new residences there, starting at about $1.5 million. "Very exciting," says David Callahan, managing partner of Jordan Real Estate. "There's never been any option like that here before."

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The view from here: Nantucket Town and its famous harbor are seaside New England at its quaintest. This is what most island visitors see upon arrival by ferry from the mainland.

By Michael Galvin, Nantucket Island Chamber of Commerce

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